Taylor Morrison Home (NYSE:TMHC) Given New $68.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reduced its price target for Taylor Morrison Home from $75.00 to $68.00 while maintaining an "outperform" rating, suggesting a potential upside of 13.24% from the previous close.
• Despite the price target cut, the stock has received mixed ratings, with one analyst giving it a Strong Buy rating and nine others rating it as Buy, leading to an average consensus price target of $76.38.
• The company recently reported earnings of $2.11 EPS, exceeding estimates, but also noted a 1.2% decline in revenue compared to the same quarter last year.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) had its target price cut by analysts at Royal Bank Of Canada from $75.00 to $68.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the construction company's stock. Royal Bank Of Canada's price target indicates a potential upside of 13.24% from the company's previous close.

Several other equities analysts have also weighed in on the stock. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Bank of America dropped their price objective on shares of Taylor Morrison Home from $75.00 to $72.00 and set a "buy" rating on the stock in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Taylor Morrison Home in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $76.38.

Taylor Morrison Home Stock Performance

TMHC stock traded down $0.52 during trading hours on Thursday, reaching $60.05. The stock had a trading volume of 74,578 shares, compared to its average volume of 1,094,471. The stock has a market capitalization of $6.03 billion, a PE ratio of 6.94 and a beta of 1.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.54 and a quick ratio of 0.74. The stock has a 50-day simple moving average of $66.50 and a 200 day simple moving average of $62.08. Taylor Morrison Home has a fifty-two week low of $51.90 and a fifty-two week high of $75.49.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The construction company reported $2.11 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.18. The firm had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.03 billion. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 earnings per share. Analysts predict that Taylor Morrison Home will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at Taylor Morrison Home

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 25,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $70.20, for a total value of $1,755,000.00. Following the transaction, the chief executive officer directly owned 383,988 shares of the company's stock, valued at $26,955,957.60. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne L. Mariucci sold 14,002 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $70.00, for a total transaction of $980,140.00. Following the completion of the transaction, the director directly owned 48,191 shares in the company, valued at approximately $3,373,370. This represents a 22.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,351 shares of company stock valued at $4,700,630 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taylor Morrison Home

Hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in Taylor Morrison Home in the 2nd quarter valued at about $28,000. AlphaCore Capital LLC acquired a new position in Taylor Morrison Home during the 2nd quarter worth approximately $37,000. GAMMA Investing LLC increased its position in Taylor Morrison Home by 193.0% during the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after purchasing an additional 444 shares in the last quarter. Parallel Advisors LLC increased its position in Taylor Morrison Home by 29.9% during the 2nd quarter. Parallel Advisors LLC now owns 882 shares of the construction company's stock worth $54,000 after purchasing an additional 203 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Taylor Morrison Home by 30.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company's stock worth $55,000 after purchasing an additional 211 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.

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